Synopsis
Gross Value Added (GVA), which is a more accurate way of assessing the actual growth in the economy, contracted by 6.2% for the entire year.
India's GDP grows 1.6% in Q4, annual contraction of 7.3% in FY 20-21
India recorded a 1.6% growth in fourth quarter of 2020-21 fiscal indicating that an economic recovery was well underway before the second wave of the virus struck.
The economy contracted by 7.3% for the entire year, better than what the second advance estimates had predicted. The growth in 2019-20 was 4%.
Gross Value Added (GVA), which is a more accurate way of assessing the actual growth in the economy, contracted by 6.2% for the entire year.